Request A Case Evaluation Or Tax Resolution Development Plan

Get a Tax Resolution Development Plan from us first before you attempt to deal with the IRS. You would meet with Board Certified Tax Attorney Jeffrey B. Kahn at the office location most convenient to you. Jeff will review your situation and go over your options and best strategy to resolve your tax problems. This is more than a mere consultation. You will get the strategy or plan to move forward to resolve your tax problems! Jeff’s office can set up a date and time that is convenient for you and take your credit card information to charge the $475.00 session fee which secures your appointment. By the end of your Tax Resolution Development Plan Session, if you desire to hire us to implement the strategy or plan, Jeff would quote you our fees and apply in full the $475.00 charge for the Tax Resolution Development Plan Session.

a. If I’m invested in my companies 401(k), what are the benefits of me opening up an outside IRA?
b. Can I invest a Healthcare Spending Account? How does that work?

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Good afternoon! Yes sometimes we just have to take the money and run!

Welcome to Inside Advantage – Your Financial And Tax Radio Show.

This is Licensed Financial Planner, Windus A. Fernandez Brinkkord, Senior Vice President Of Investments at Trilogy Financial Services.
Jeff is off on assignment today but I am not alone as I will be introducing my special guest in the studio with me and Jeff’s associate Amy Spivey will be calling in later in the show. You are listening to our weekly radio show where we talk everything about finances and taxes from the ESPN 1700 AM Studio in San Diego, California. When it comes to knowing tax laws and paying taxes, let’s face it — everyone in the U.S. is either in tax trouble, on their way to tax trouble, or trying to avoid tax trouble! And whether you are on the rebound or flying high, we have the information you need to make sound financial decisions and map out your strategy for success.

Our show is broadcasted each Friday at 2:00PM Pacific Time and replays are available on demand by logging into the KahnTaxLaw website at www.kahntaxlaw.com.

1. Tell us a little bit about what you do as the Regional Sales Manager for Pay it Forward Processing.
2. What was it about Pay it Forward that attracted you to the position in the first place?
3. The company philosophy centerpiece of “Every Swipe Benefits Charity” is an innovative program that fundraises to give back to the community. Can you explain how that works and what organizations benefit from the charity?
4. How long has the program “Every Swipe Benefits Charity” been around?
5. How much has the “give back” program donated to charity?
6. Is their one organization or foundation that leads in
7. Do you have a niche clientele? Or a sector that gravitates toward you more than others for services?
8. When proposing your product to a merchant, what costs are associated with program?
9. How quickly would your company be able to equip a merchant with the devices and/or technology to conduct business?
10. A benefit of Pay it Forward Processing is no increase in processing costs, but what triggers a decrease in costs to merchants?
11. How do you keep your sales team engaged? Do you have monthly quotas, or how does that work?

Well it’s time for a break but stay tuned because we are going to tell you why employers are cutting down on wellness benefits.

Welcome back. This is Inside Advantage – Your Financial And Tax Radio Show on ESPN and you are listening to Board Certified Tax Attorney, Jeffrey B. Kahn, and Licensed Financial Planner, Windus A. Fernandez Brinkkord.

And be aware of the special offer that Windus has for you: Windus PLUG: Trilogy Financial Services will provide you with a retirement cash flow analysis which is a $600.00 value for free as long as you mention the Inside Advantage Radio Show when you call to make an appointment. Call my office to make an appointment to meet with me, Windus A. Fernandez Brinkkord. The number to call is 858.314.5169. That is 858.314.5169. Or visit www.guideyourstory.com.

Employers Cut Down on Wellness Benefits
http://on.wsj.com/1YzJFAy

1. New survey of benefits from the Society for Human Resource Management finds employers are cutting back on certain wellness benefits
(Discuss correlation between healthcare costs going up while benefits are decreasing)
2. Designed to cut employers’ health costs, study saw fewer benefits for:
a. on-site flu shots
i. Decrease from 61% to 54%
b. 24-hour nurse hot lines
c. Health coaching
i. Decrease from nearly 50% to 37%
d. Discounts on premiums for weight loss
3. Alternately, One Rand Corp study of a Fortune 100 company found when measuring ROI, wellness programs lost 50 cents for every dollar spent
a. (Discuss: Should companies be held to providing health and wellness programs, if they’re not benefiting a majority?)
4. Not only focused on health and wellness, survey finds pay is changing too
a. More companies are handing out bonuses to top performers instead of large annual raises
b. Wider range of workers are eligible for things like spot-bonus awards and retention bonuses
c. Spot bonuses offered by 43% of employers compared to 38% in 2012
d. (DISCUSS: Which would you prefer and why, bonuses or company-wide raises?)
5. Survey also shares that organizations offering telecommuting has tripled to 60%, up from 20% in 1996.
a. (DISCUSS: Does the benefit of telecommuting warrant cuts in company sponsor wellness programs, since employees aren’t going into work in the first place?)
6. Healthcare and retirement savings benefits have remained fairly steady, although types of coverage have changed
a. Health savings accounts are being provided by some 50% of employers surveyed, up from 43% last year.
b. (DISCUSS: 20 years ago, companies didn’t offer health-savings accounts. Is this a suitable substitution for cutting health and wellness spending?)
c. (DISCUSS: Are health and wellness provisions being weaned out like pensions? Health care savings accounts being substituted like company sponsored retirement savings that only help those who help themselves?)
7. The variety of benefits has been widening to appeal to the multigenerational workforce.
a. Survey says companies now cover so 330 benefits compared to 60 two decades ago
b. Emerging benefits include:
i. Genetic testing for cancer = offered by 12% of employers
ii. Subsides for using an employee owned tech device = offered by 12% of firms
iii. Automatic enrollment in a 401(k) or other retirement plan = offered by 21% of companies
(DISCUSS: Is this changing for the better or just evolution with time in general? Does it benefit an employee more to have little bits of benefits in a lot of places or more generalized benefits, leaving one liable for the rest?)

Windus PLUG: Trilogy Financial Services will provide you with a retirement cash flow analysis which is a $600.00 value for free as long as you mention the Inside Advantage Radio Show when you call to make an appointment. Call my office to make an appointment to meet with me, Windus A. Fernandez Brinkkord. The number to call is 858.314.5169. That is 858.314.5169. Or visit www.guideyourstory.com.

Stay tuned because after the break we are going to tell you How Taxes And Business Entities Work.

Amy states: PLUG: The Law Offices Of Jeffrey B. Kahn, P.C. will provide you with a Tax Resolution Plan which is a $500.00 value for free as long as you mention the Inside Advantage Radio Show when you call to make an appointment. Call our office to make an appointment to meet with Jeffrey Kahn, right here in San Diego or at one of our other offices close to you. The number to call is 866.494.6829. That is 866.494.6829.

Windus asks: Is there any difference in an LLC or S-Corp when forming an entity and looking at potential tax liability?

Amy replies: When clients inquire on what type of entity should be formed for the operation of a business venture, we refer to that type of discuss ion as “Choice Of Entity”.

Windus asks: What are the similarities between LLC’s and S-Corp’s?

Amy replies: They both offer the following advantages over not incorporating:
• Limited liability: Directors, officers, shareholders/members, and employees enjoy limited liability protection.
• Pass-through taxation: Owners report their share of profit and loss on their individual tax returns.
• Double taxation elimination: Income is not taxed twice (unlike corporate income which is taxed at the corporation level and again then at the individual level as dividend income when distributions are made).
• Investment opportunities: The company can attract investors through the sale of shares of stock or membership interests.
• Perpetual existence: The business continues to exist even if the owner leaves or dies.

Windus asks: So what are the big differences?

Amy replies: The big difference though is how these entities are taxed which people are not aware knowing that for both types of entities, the income or loss flows through to the individual income tax returns of the owners. An S-Corp will follow the corporation tax code. An LLC can follow either the partnershiptax code or the corporation tax code or even be taxed as an entity disregarded as separate from its owner.

Amy continues: To answer which tax code is most beneficial, we consider several factors including the type of business being conducted. Real estate ventures are usually better off being subject to the partnershiptax code while other types of businesses are usually better off being subject to the corporation tax code

Windus asks: How can this affect things if the entity breaks up?

Amy replies: Whether the entity breaks up or sells off an interest is something to consider at the beginning when first choosing an entity. The exit strategy for the business will have different tax consequences if the entity follows the corporation tax code or the partnership code. A big factor to consider is how the business is first going to be capitalized or financed.

Windus states: So a lot of people always ask me how long do tax records need to be kept. Amy what do you have to say about that.

Amy replies: The length of time you should keep a document depends on the action, expense, or event which the document records. Generally, you must keep your records that support an item of income, deduction or credit shown on your tax return until the period of limitations for that tax return runs out.

Windus asks: What is that period of limitations?

Amy replies: The period of limitations is the period of time in which you can amend your tax return to claim a credit or refund, or the IRS can assess additional tax. The information below reflects the periods of limitations that apply to income tax returns. Unless otherwise stated, the years refer to the period after the return was filed. Returns filed before the due date are treated as filed on the due date.

Windus asks: So what are the Period of Limitations that apply to income tax returns?

Amy replies:

1. Keep records for 3 years if situations (4), (5), and (6) below do not apply to you.
2. Keep records for 3 years from the date you filed your original return or 2 years from the date you paid the tax, whichever is later, if you file a claim for credit or refund after you file your return.
3. Keep records for 7 years if you file a claim for a loss from worthless securities or bad debt deduction.
4. Keep records for 6 years if you do not report income that you should report, and it is more than 25% of the gross income shown on your return.
5. Keep records indefinitely if you do not file a return.
6. Keep records indefinitely if you file a fraudulent return.

Windus asks: So what are the Period of Limitations that apply to employment tax returns?

Amy replies: Keep employment tax records for at least 4 years after the date that the tax becomes due or is paid, whichever is later.

Windus asks: Are the any special consideration for records connected to property?

Amy replies: Yes, generally, keep records relating to property until the period of limitations expires for the year in which you dispose of the property. You must keep these records to figure any depreciation, amortization, or depletion deduction and to figure the gain or loss when you sell or otherwise dispose of the property.

Amy continues: If you received property in a nontaxable exchange, your basis in that property is the same as the basis of the property you gave up, increased by any money you paid. You must keep the records on the old property, as well as on the new property, until the period of limitations expires for the year in which you dispose of the new property.

Windus asks: What should you do with your records for nontax purposes?

Amy replies: When your records are no longer needed for tax purposes, do not discard them until you check to see if you have to keep them longer for other purposes. For example, your insurance company or creditors may require you to keep them longer than the IRS does.

Windus states: So Amy please tell our listeners of your offer.

Amy states: PLUG: The Law Offices Of Jeffrey B. Kahn, P.C. will provide you with a Tax Resolution Plan which is a $500.00 value for free as long as you mention the Inside Advantage Radio Show when you call to make an appointment. Call our office to make an appointment to meet with Jeffrey Kahn right here in San Diego or at one of our other offices close to you. The number to call is 866.494.6829. That is 866.494.6829.

Windus states: Thanks Amy for calling into the show. Amy says Thanks for having me.

Stay tuned as we will be taking some of your questions. You are listening to Board Certified Tax Attorney, Jeffrey B. Kahn, and Licensed Financial Planner, Windus A. Fernandez Brinkkord on Inside Advantage on ESPN.

And Jeff and I always pleased to make our offers to our listeners where… PLUG: The Law Offices Of Jeffrey B. Kahn, P.C. will provide you with a Tax Resolution Plan which is a $500.00 value for free as long as you mention the Inside Advantage Radio Show when you call to make an appointment. Call Jeff’s office to make an appointment to meet with him right here in San Diego or at one of his other offices close to you. The number to call is 866.494.6829. That is 866.494.6829.

Windus states: Windus PLUG: Trilogy Financial Services will provide you with a retirement cash flow analysis which is a $600.00 value for free as long as you mention the Inside Advantage Radio Show when you call to make an appointment. Call my office to make an appointment to meet with me, Windus A. Fernandez Brinkkord. The number to call is 858.314.5169. That is 858.314.5169. Or visit www.guideyourstory.com.

You should also know that the securities and advisory services are offered through National Planning Corporation (NPC) Member FINRA, SIPC, and a Registered Investment Advisor. Trilogy Financial Services and NPC are separate and unrelated Entities.

Windus states: If you would like to post a question for us to answer, you can go to my website at www.kahntaxlaw.com and click on “Radio Show”. You can then enter your question and maybe it will be selected for our show.

Windus states: OK Cade as our special guest, what questions have you pulled for us to answer?

Joshua of Newport Beach asks: If I’m invested in my companies 401(k), what are the benefits of me opening up an outside IRA?

Windus answers.

Debbie of San Diego asks: Can I invest a Healthcare Spending Account? How does that work?

Windus answers.

Windus states: Well we are reaching the end of our show.

Remember you can send us your questions by visiting the kahntaxlaw website at www.kahntaxlaw.com.

Windus states: Have a great day everyone!

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A Brilliant Lawyer-Benefit from His Expertise!

I had an issue which required both the expertise of a lawyer with a firm grasp of tax law---one that is always evolving---and that of a highly skilled accountant. And seeking for these qualifications in a single individual, I had the good fortune to discover Mr. Jeffrey Kahn, who indeed proved that a lawyer can be at the same time as an accountant. We worked together for over a year. Regardless of the complexity of the issues as they presented themselves, Mr. Kahn overcome each with admirable skill. At the conclusion of the matter that Mr. Kahn handled, I was utterly satisfied with the outcome, knowing that he had done his very best for me. I would recommend his services to family members, and friends, should they have a need for the rare expertise that Mr. Kahn has.

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We went through a very stressful experience when we came to know about FBAR and OVDI and it disturbed our peace of mind. I found about Jeff online and I was living in India at that time. Jeff was able to understand my situation in one phone call. Our OVDI process started and I was working with Jeff while I was in India. His team is splendid. They would update me on every small things and I couldn't have had a more professional team. They guided me throughout the process , answered every question that I had and I felt a lot better over time. Finally after 4 overs , Jeff was able to resolve my scenario and it was such a relief. I really thank Jeff and his team and would highly recommend his services for anyone going through nightmares with IRS and taxation issues.

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I was looking for an attorney to draw up multiple custom agreements which included a promissory note, security agreement and marketing and support agreement. Mr. Kahn was extremely professional and very detail oriented. He went above and beyond to ensure I was fully protected and suggested new ideas to further enhance the agreements.

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I highly recommend Mr. Kahn for any legal issues. He was very professional and gave me many ideas on how to resolve my legal issues during our consultation. I hired him soon after and was extremely pleased with how he handled my case. I would recommend him to anyone with tax concerns.

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When it comes to representation in dealing with the IRS there is no better than Jeff Kahn period. Jeff knows his stuff and he knows exactly how to maneuver around and through the IRS. Jeff was relentless at breaking down the IRS and knows all the procedures and all the loopholes, you couldn't have a better attorney in your corner than Jeff Kahn. His team in Walnut Creek are lightning fast at getting things done are extremely professional, understanding and very friendly . Jeff Kahn, save my company literally hundreds of thousands of dollars in unpaid taxes. I can't thank Jeff enough he was absolutely amazing. Jeff Kahn has an excellent reputation here in Northern California and is well known for his ability to take on the IRS. I can't think Jeff and his crew in Walnut Creek enough. Job well done guys.

Eric

THANK YOU SO MUCH.

I have the most gratitude and appreciation for the work Jeffrey did for me to resolve my tax matter. To get to this point of conclusion, I cannot express in words how much this case got me in distress. And now I’m “free man”….literally. I thank you so much.

Yishak

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Jeffrey did exactly what he said he would do. He resolved my problem with the IRS quickly and to my complete satisfaction. I found him to be knowledgeable, experienced, and responsive.

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I hired Mr. Kahn to help me with a tax issue that came about after I raised money on GoFundMe for a sick friend. The IRS sent a notice that I owed taxes on the funds collected because they considered the donations as income for me. Mr. Kahn helped me eliminate all taxes due.